This last Thursday, at 5:00 PM, was the final moment before my offer expired. At 5:40 I hadn’t heard anything at all. Not a word. So I called the broker and after one ring he sent me to voicemail. And then sent a text message saying he couldn’t talk at the moment. I guess at the time of my offer expiring he decided to schedule another meeting? Seemed odd to me but oh well. I just told him to give me a call later. Continue reading
So in the last month we have had more progress! I’ve talked to three different banks. One of them turned me down pretty quickly, another seems to be still thinking about it, and the last one has give formal acceptance of the acquisition. Fortunately the last one is the bank I was hoping to work with most! Now, we still need to convince the Small Business Administration, but my loan officer will be handling most of that. And she’s worked with the SBA enough that she is confident there won’t be any problems.
Lots of big new from the last few weeks! After months of slow plodding things are now happening quite rapidly! It all started when I finished up my business plan. That was the key thing I needed before I could start talking to bankers and lawyers. I don’t have much to go off of except examples from the internet but I think I did a pretty good job on the plan and the financial projections! Continue reading
The last few weeks have been busy but also slow. I haven’t started any further projects around the house and I’m still doing lots of research into the business. To avoid going too long in between posting updates I figured I could write a general update on the few things that are still actively being worked on. Continue reading